All Forum Posts by: Joe Aiola

Hey @Kalvin Seidl - congrats on making the first post! That's definitely a good start, because as @Kirk R. already mentioned, BP offers a ton of learning opportunities. My first piece of advice would be to get a general idea of all the different types of investing strategies (buy and hold, flipping, wholesaling, BRRRR, STR, notes, etc.). Whichever one feels the most interesting to you, or makes the most sense, dive into studying that one more in depth. All these strategies work, otherwise they wouldn't exist. So, narrow your focus to one strategy and become the best you can be at it.

Best of luck!

@Jose Beltran I would take @Cory Carlson's advice and speak to a few other lenders. Just because one lender is telling you no, doesn't mean they all will. If you're still having a tough time after talking to several other lenders, maybe consider getting a partner or looking for a seller financing deal. 

Best of luck!

@Joanne Eriaku I think any strategy could be effective if you're consistent with it. Wholesaling, like anything else, is like a funnel. Focus on getting as many leads as you can if you want to do many deals. Diving for dollars requires more time since you'll be driving around a lot, but not a bad way to get started.

Best of luck!

Hey @Joanne Eriaku! Where in NY are you looking? I don't know any credible sources that I can recommend, but have you thought about starting with driving for dollars in the meantime? 

@Rod Joseph Hey man! I don't know any handymen in that area but I just heard a tip the other day that might be able to help you out. You could try going to some apartment complexes in the area and speaking with some of the maintenance crew. They tend to be pretty handy and will probably be willing to make a few extra bucks after hours. I don't think they'll charge you as much as a regular contractor. I've never tried this strategy but it sounds like it's a good idea.

Don't know if this is what you're looking for but hope it helps! Best of luck.

@Andy Wilson Forgot to add to my post to make sure you screen the tenants properly. Don't just take "bulk" money because someone offers it. Ask for their previous rental history and follow up with the other landlords to reduce the risk.

@Reh N. I was going to have the same advice as @Tchaka Owen. Your max offer price is your max offer price - that shouldn't change. Hubzu is funny like that. The prices jump around a lot when the reserve hasn't been met. I'm not sure how they come up with the prices, to be honest. The most important thing is that you're not bidding against yourself. If you're the only one bidding, don't bid higher!

Best of luck.

@Andy Wilson I completely agree with @Twana Rasoul. Vacancy kills cash flow. I would also strongly suggest changing your viewpoint on "bulk" money upfront. Why wouldn't you want that? If someone gave you several months upfront, that's an immediate weight lifted off your shoulders. You don't have to hold your breath to see if the rent comes in and it gives the tenant more time to budget for future rent. Especially what we're going through now with Covid-19. 

Hey @Alonso Gomez! You can find other investors through this site, by going to your local meet-ups, and by simply asking people who know if they know anybody who invests in the area.

If you're just starting out then I think partnering with somebody is a great way to get started. Just keep in mind that if you're looking to partner with somebody who has experience, then you need to find a way to bring value to them!

Best of luck!

@Robert Zenon Hey Robert - great post! I would change "criteria" to "strategy". Once you have your strategy (buy and hold turnkey, BRRRR, flipping, wholesaling, etc.), you can then start to immerse yourself in learning that strategy. Then, once you have enough knowledge, talk to enough investors, and analyze enough deals, you can then define your criteria... That would be the way I would start, and then the rest of your list looks fine. Just don't get so caught up in thinking of all the steps down the road. Master step number one, then move on to step two, and so on.

Best of luck!